Estonia

Investment activity picked up more strongly than expected in both the private and the public sectors, pushing GDP growth to 4.9% in 2017. Although it has already peaked, economic activity remains vibrant in 2018 and thereafter. External demand will continue to grow at a slower pace compared to last year. Household consumption, backed by a considerable rise in real wages and tax cuts, continues to be a strong driver of economic activity. We project GDP to grow at a rate of 3.5% in 2018 and 3.1% in 2019, declining somewhat to 3.0% in 2020.

map Estonia
        FORECAST*
Main Economic Indicators201520162017201820192020
Population, 1000 persons131513161315...
GDP, real change in %1.72.14.93.53.13.0
GDP per capita (EUR at PPP)217002190023100...
Gross industrial production, real change in %0.33.47.7...
Unemployment rate - LFS, in %, average6.26.85.86.05.85.5
Average gross monthly wages, EUR106511461226...
Consumer prices, % p.a.0.10.83.73.32.82.7
Fiscal balance in % of GDP0.1-0.3-0.3...
Public debt in % of GDP10.09.49.0...
Current account in % of GDP2.01.93.20.80.50.5
FDI inflow, EUR mn-661665626...
Gross external debt in % of GDP94.390.483.5...


Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.

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Monthly Report No. 6/2018

Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 6, June 2018
27 pages including 1 Table and 1 Figure

Details

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ESTONIA: Investment keeps growth in high gear

Sebastian Leitner
in: Riding the Global Growth Wave
wiiw Forecast Report No. Spring 2018, March 2018 , pp. 94-97
Details and Buy


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